CSHB 75(L&C): "An Act relating to coverage for additional insureds under owner and contractor controlled insurance programs; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 75(L&C) 01 "An Act relating to coverage for additional insureds under owner and contractor 02 controlled insurance programs; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 21.36.475(b) is amended to read: 05 (b) In this section, an owner controlled or contractor controlled insurance 06 [INSURED] program does not include 07 (1) builder's risk or course of construction insurance; 08 (2) insurance relating to the transportation of cargo or other property; 09 (3) insurance covering one or more affiliates, subsidiaries, partners, or 10 joint venture partners of a person; or 11 (4) insurance policies endorsed to name one or more persons as 12 additional insureds, if naming a person as an additional insured is a term required 13 by a contract; this paragraph does not apply to an owner controlled or 14 contractor controlled insurance program for a major construction project.
01 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 02 read: 03 APPLICABILITY: CONTRACTS. AS 21.36.475(b), as amended by sec. 1 of this 04 Act, applies to contracts entered into on or after the effective date of this Act. 05 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).